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    Keller Williams Royal Oak

    423 South Washington Ave, Royal Oak, MI 48067
    (248) 288-3500
    Size: 10+ agents

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    Property Types

    • Residential Multi Family
    • Land
    • Commercial Sale
    • Commercial Lease
    • Residential

    Listings

    For Sale (27)

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    Detroit Land for Residential Development
    Contact for pricing
    0.07 Acres

    Detroit Land for Residential Development

    Vacant land suitable for residential or community-based development.

    2190 Philip St, Detroit, MI 48215
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    Residential Land in Detroit
    $42,000
    0.31 Acres

    Residential Land in Detroit

    Residential land suitable for building three homes in Detroit.

    14166 Mayfield St, Detroit, MI 48205
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    Detroit Multi-Unit Residential Property
    $79,000
    2,100 SF

    Detroit Multi-Unit Residential Property

    Multi-unit residential property in Detroit, Michigan, requiring rehabilitation.

    2965 W Grand St, Detroit, MI 48238
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    Residential Land in Southfield, MI
    $130,000
    0.21 Acres

    Residential Land in Southfield, MI

    Vacant lot in prestigious Southfield subdivision, ready to build.

    26597 Primary Dr, Southfield, MI 48034
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    Buildable Lot Near Paradise Lake
    $54,000
    0.34 Acres

    Buildable Lot Near Paradise Lake

    Buildable lot near Paradise Lake in historic Idlewild community.

    6629 S Tampa, Idlewild, MI 49642
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    Residential Land in Hazel Park
    Contact for pricing
    0.70 Acres

    Residential Land in Hazel Park

    Residential land for sale in Hazel Park, Michigan.

    89 W Hayes Ave, Hazel Park, MI 48030
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    Residential Land in Roseville, MI
    Contact for pricing
    0.10 Acres

    Residential Land in Roseville, MI

    Residential land with mature landscaping and privacy fencing.

    N Hillview St, Roseville, MI 48066
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    Detroit Commercial Building with Parking
    $380,000
    4,125 SF

    Detroit Commercial Building with Parking

    Commercial building with parking lot and drive-thru lanes.

    12336 Morang Dr, Detroit, MI 48224
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    Detroit Duplex with Expansion Potential
    $240,000
    1,920 SF

    Detroit Duplex with Expansion Potential

    Well-maintained Detroit duplex with two spacious units and expansion potential.

    3485 Parker St, Detroit, MI 48214
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    Detroit Triplex with Income Potential
    $110,000
    2,619 SF

    Detroit Triplex with Income Potential

    Three-unit residential property in Detroit, offering income potential.

    3331 Kendall St, Detroit, MI 48238
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    Tri-Unit Live-Work Property
    $749,900
    3,186 SF

    Tri-Unit Live-Work Property

    Tri-unit building zoned for commercial and multifamily use, offering a blended residential and income-oriented layout.

    695 Livernois St, Ferndale, MI 48220
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    Royal Oak Office For Sale
    $425,000
    1,220 SF

    Royal Oak Office For Sale

    Classy 1220 SF office in downtown Royal Oak.

    417 E 4Th St, Royal Oak, MI 48067
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    Fully Renovated Duplex For Sale
    $279,999
    3,022 SF

    Fully Renovated Duplex For Sale

    Move-in ready, fully renovated duplex with 3-bed and 4-bed units in Detroit’s multi-family zoning.

    3037 Calvert St, Detroit, MI 48206
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    Prime Commercial Land in Novi
    $515,000
    0.23 Acres

    Prime Commercial Land in Novi

    Highly visible commercial land near Novi Town Center.

    12 13, Novi, MI 48375
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    Land in Crooked Creek
    $59,900
    6.88 Acres

    Land in Crooked Creek

    6.88 acres in Vassar Twp, zoned Agricultural-Forestry-Residential.

    Crooked Creek Dr, Vassar, MI 48768
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    Spacious Warehouse in Burton, Michigan
    $84,999
    2,080 SF

    Spacious Warehouse in Burton, Michigan

    Warehouse with new roof, optimized for storage in Burton.

    32005 Berent St, Burton, MI 48529
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    Detroit Brick Two-Unit Building
    $125,000
    1,973 SF

    Detroit Brick Two-Unit Building

    Two-unit brick building suitable for investors or homeowners.

    15895 Cloverlawn St, Detroit, MI 48238
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    Mixed-Use Property in Ferndale, MI
    $775,000
    3,986 SF

    Mixed-Use Property in Ferndale, MI

    Multi-unit property with residential and commercial opportunity in Ferndale.

    695 Livernois St, Ferndale, MI 48220
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    Mixed-Use Investment Opportunity
    $775,000
    3,186 SF

    Mixed-Use Investment Opportunity

    Live, work, and play in spirited Ferndale, Michigan.

    695 Livernois St, Ferndale, MI 48220
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    Detroit Investor Special Opportunity
    $109,900

    Detroit Investor Special Opportunity

    Investment property in Herman Kiefer redevelopment zone with strong potential.

    1710 Lee Pl, Detroit, MI 48206
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    Brick Two-Unit Multifamily Property
    $125,000

    Brick Two-Unit Multifamily Property

    Two-unit property suitable for investors or homeowners.

    15895 Cloverlawn St, Detroit, MI 48238
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    Land in Hazel Park
    Contact for pricing

    Land in Hazel Park

    Land for sale in Hazel Park with freeway access.

    89 W Hayes Ave, Hazel Park, MI 48030
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    West Side Multi-Unit Building
    $110,000

    West Side Multi-Unit Building

    Multi-unit building on the West Side, needs work.

    3331 Kendall St, Detroit, MI 48238
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    Mixed-Use Property in Ferndale, MI
    $775,000

    Mixed-Use Property in Ferndale, MI

    Mixed-use property offering residential and commercial opportunities in Ferndale.

    695 Livernois St, Ferndale, MI 48220
    View details
    Classy Office in Downtown Royal
    $425,000

    Classy Office in Downtown Royal

    Updated 1220 SF office with parking in Royal Oak.

    417 E 4Th St, Royal Oak, MI 48067
    View details
    Renovated Duplex Near Boston Edison
    $290,000

    Renovated Duplex Near Boston Edison

    Fully renovated duplex in rapidly developing Detroit area.

    3037 Calvert St, Detroit, MI 48206
    View details
    Brick Multi-Unit Duplex
    $79,000

    Brick Multi-Unit Duplex

    Brick multi-unit duplex offers room to reconfigure and is priced for buyers prepared to complete needed rehab.

    2965 W Grand St, Detroit, MI 48238
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    For Lease (3)

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    Downtown Royal Oak Office Space
    $2,700 / Mo
    1,220 SF

    Downtown Royal Oak Office Space

    Classy 1220 SF office in the heart of Royal Oak.

    417 E 4Th St, Royal Oak, MI 48067
    View details
    Southfield Retail Space For Rent
    $2,000 / Mo
    1,340 SF

    Southfield Retail Space For Rent

    Commercial property in a high-traffic location, ideal for business.

    24070 W 10 Mile Rd, Southfield, MI 48033
    View details
    Royal Oak Commercial Space Available
    $9,277 / Mo
    4,123 SF

    Royal Oak Commercial Space Available

    Prime commercial space in Royal Oak's Social District.

    423 S Washington Ave, Royal Oak, MI 48067
    View details

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    Keller Williams Royal Oak
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Keller Williams Royal Oak
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